The introduction of the new 54 plate had little impact on disappointing car sales last month.

Singer & Friedlander Finance, sales and marketing director, Miles Roberts says: “Pre-registered stock and poor registrations have continued to have a detrimental effect on used values, whilst the lack of showroom footfall can still be attributed to the increases in interest rates and motoring costs.”

His solution is for dealers to ‘work smarter’ to increase market confidence.

“Flexible finance deals and insurance packages can help profitability, which means it is important for dealers to be ready for FSA regulation as the January deadline draws ever closer,” he says.